Mentor gives incentive grant to American Metal Coatings Inc.

Mentor City Council awarded a Mentor Incentive Grant to Cleveland-based American Metal Coatings Inc. on Tuesday night, in anticipation of a move to the city to expand operations.
The company — specializing in zinc plating, phosphating cleaning parts used in the automotive industry — has signed a purchase agreement for a vacant 120,800-square-foot building at 7700 Tyler Blvd.
The building previously was occupied by Best of Show Automotive and its Museum of Speed, which moved to North Carolina.
The total project cost is estimated at $5.2 million, including the building purchase, new machinery and equipment, and building-readiness.
In 2012, AMC reported a payroll of $2.13 million and 35 employees. The payroll is projected to be $2.26 million in 2014.
AMC will receive an annual grant equivalent to 30 percent of payroll taxes paid during 10 years. The grant total will be about $154,000 and the city will receive roughly $359,500 in new payroll taxes in that time.